An Example of a Lack of "Good" Buyers

Natty082

A viewing would be nice for me - time wasting peeps or not! Not had one soul through the door since January!!

The EA says 'it's an apartment and they just aren't selling anymore'..... helpful!

lostinrates

Fuchsia_a wrote: »

I'm a cash buyer (with my parents around here, though I would be on my own somewhere cheaper!) and agents treat me appallingly badly, and did the last time we bought a house, too - they're frequently late or don't turn up to viewings, and pretty much ignore everything I ask them. They also don't let buyers in to view houses that the EA's friends are interested in - I've had some EAs being incredibly blatant about it and listing off reels of reasons not to go and see somewhere several times. :rolleyes:

I don't think EAs believe that you can be young and be a cash buyer unless you're flashing loads of bling. Generally they lose all interest in me when I tell them I don't need them to fix me up with a mortgage - either that's where they make the real money or they're overly suspicious and don't believe me.

This is very similar to the experience we are havng (though we would need a mortgage we have a large deposit saved). I'm amazed at how UNinterested agents seem. So, its not just your mortgage thing: I just think they are giving up!

vicky_kidder

westv wrote: »

Hi Vicky. As I explained in my fourth post in the thread my reason for starting this thread was to show figures for one area of the country as regards to how few "sold" buyers there are compared to last year. I only really brought up the neighbour as an aside. The thread wasn't intended to be specifically about my sale but sales in general so when Tassotti made the first reply I was confused as to it's relevance to the subject raised. Hence when Tassotti suggested I was wasting people's time I assumed (wrongly?) he was trying to wind me up. Does that make things clearer?

Ok, fair enough, sorry Westv!

guyb99

We've been on since January - went on at £185k; two viewings till Apr; changed agents and dropped to £178k; more viewings but only one second viewing and no offer; went multi in June and dropped the price on Monday to £169k - got two viewings this week. I think the price is the key

(http://www.rightmove.co.uk/viewdetails-10295889.rsp?pa_n=1&tr_t=buy ) - to have a nose yourself!

bubblesmoney

lostinrates wrote: »

This is very similar to the experience we are havng (though we would need a mortgage we have a large deposit saved). I'm amazed at how UNinterested agents seem. So, its not just your mortgage thing: I just think they are giving up!

similar situation here. good deposit just looking for 4-5y mortgage but have found many EAs make it difficult to even have viewings once they realise u r not going to see their FA / mortgage advisor for mortgages thru them. i have a mortgage agreement in principle 9had one more earlier but didnt bother renewing that as have better rate with other one), 60% deposit (could give more but saving that for other investments), hhave decided on solicitor and just need to d/w them once offer accepted (will be appointing them even if costly as colleague went thru them and told reasonable rates and approachable). my funds available immediately. but find that some EAs make u dance weeks to give a viewing even in this market. one Ea didnt give me viewing and house was later repocessed and now other EA who is presently handling sale has given me vuiewing, what does one say to that, the Ea was marketting property at 160k in april may 2008 and didnt sell and house got repocessed, occupant think caused damage prior to repocession, ripped out appliances damaged cabinets etc and carpets and even wall in one room and now after all that and 3months down the line the new EA has INCREASED the house price by 5k and now marketting house at 165k and new EA gave me viewing. when i questioned them how their valuation worked and about 2-3m earlier not able to sell at 160 when in betetr condition and now in damamged condition the new EA increased valuation in falling market by 5k. the new EA retorts that they are looking for better value for seller. there ended our negotiations when they rejected my offer. atleast they gave me a viewing unlike the earlier EA. i think EAs play games to deny viewings to force repocessions then deliberately keep advertised prices high when banks try to sell and make it very difficult to get viewings (it took me 2weeks of repeated calls to get viewing) and then they get their freinds tto bid low offers to make a fast buck. thats my impression. they need other ways to make a fast buck when they cant sell properties in a falling market the honest way.

especially since most vacant properties and repocessions are accompanied viewings, either they dont have staff to do the viewing for weeks together or they dont have the inclination to sell these properties or there is some ulterior motives in trying to allow only their people to view/make offer for properties

i know that a select committee of parliament has been looking into fraud in the construction industry recently and i do hope people write their experiences to the select committee investigating these issues. i dont know if their investigation is already finished. so when i sort out my house purchase, i will write a brief letter to the committee investigating the construction industry broaching the problem of rigging sales in repocessions. since the banks are regulated, any sales that they make, if the EAs fraudulently disadvantage some people and conversely favour their friends at the cost to the regulated banks needs to be investigated / regulated. i hope they look into this issue and make necessary regulation / monitoring. i dont know what sort of regulation / monitoring but something is definitely needed to bring to book the EAs involved in these obviously fishy dealings while selling repocessions etc.

kingkano

I thought EAs have to fwd all offers on a repo to the bank? If the EA rejected your offer I'd probably be contacting the bank personally to make sure they received it. It's more likely the bank rejected the offer not the EA. Unfortunately banks don't have emotion and just look at the bottom line. You'd think it's not really in the EA or banks interest to reject offers, the property will just go to auction (probably the EA is then out of the deal and gets nada) - and the bank gets less in all likelyhood.

Tassotti

westv wrote: »

Had one of the two agents marketing my property in Wickford, Essex ring me this afternoon to ask for tonight's viewing to be postponed.

Not about your property????

Don't have a go at me, and don't use your fictitious sale as another reason to have a go at me.

Tass

westv

Tassotti wrote: »

Not about your property????

Don't have a go at me, and don't use your fictitious sale as another reason to have a go at me.

Tass

Sorry I don't quite understand who you are replying to. It can't be to the quote in your post because then your reply makes no sense whatsoever.
And to say it's a fictitious sale is obviously bull as I've posted the Rightmove link twice already.

Tassotti

westv wrote: »

My reason for starting this thread was to show figures for one area of the country as regards to how few "sold" buyers there are compared to last year. I only really brought up the neighbour as an aside.

So are you selling or trying to talk down the market?

westv

Tassotti wrote: »

So are you selling or trying to talk down the market?

I'm selling but did you actually understand my first post?
Title: An Example of a Lack of "Good" Buyers

"Whilst he was on the line I asked him how many people he had on his books looking who had sold their own property. He said that of 60 clients that matched my property 15 had sold. He went on to say that this time last year it would have been more likely to be 95 matched and 60 sold."

I would have thought it was obvious that I was referring to the conversation about the market in my area and not specifically to my property